Other transaction authority also known as OTA allows the government agencies and department of defense to get into other transaction agreements that allow industries to engage in research and production projects. Since the government wants to have state-of-the-art technology, as well as engage in research and development, it where the other transaction agreements come into play. Other transaction agreements are the government’s way of finding a way around the regulations to ensure they still have what they need. Continue reading to learn how other transactions work.
The main benefit of OTA is the speed, flexibility, and accessibility it brings; the government research and prototype activities that could have taken forever can now be accomplished faster and easier because they have all the resources at their disposal thanks to other transactions. An OTA award is open for applications to all commercial and academic institutions across the nation unless you are a traditional defense contractor. Your institution will not necessarily miss out on the OTA award if you are traditional defense contractor provided there are circumstances to justify your use of an OTA.
Due to government regulations, most research institutions are usually unable to compete within the government sector, a problem that is solved by OTAs, the same way it does in the prototype as well as production processes. One compensation type suitable for an OTA is cost-reimbursement OTA where an organization is paid back every dollar they spent on a project for the government. In case your firm is handling minor research and development for the federal government with a high level of confidence, that is listed under firm-fixed-price OTAs, and they are not as common as cost-reimbursement OTAs.
If you have been wondering about the solicitations methods, you will be glad to know that OTAs can only be solicited through either request for prototype proposals or request for the white paper, highlighting all the factors that may impact the OTA award. When it comes to OTAs, there is not a single stage during the application or submission step for an OTA request that you will deal with the government because they outsource these services through consortium management firms.
The idea that the government is using consortia for OTAs request submission may seem strange to you but it is for your benefit; it shortens the lengthy duration you would have to wait by providing efficiency and flexibility. Another benefit of working with outside management is the help you will get in managing your OTA from the professional and experienced OTA officer you will be working with. Discussed above is everything you should know about OTA proposals.